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Home CryptoCurrencies

What Is Carbonic Finance (CO2)? Complete Guide & Review About Carbonic

Verna by Verna
June 14, 2022
in CryptoCurrencies
Reading Time: 6 mins read
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What Is Carbonic Finance (CO2)? Complete Guide & Review About Carbonic
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What Is Carbonic(CO2)?

Carbonic Finance is an algorithmic stablecoin protocol bringing sustainability to the Polygon ecosystem through carbon-backed treasury reserves. Inspired by Tomb Finance, the Carbonic protocol uses seigniorage mechanisms to ensure price stability and to enable bonding $BCT carbon credits, locking carbon in its carbon reserve in liquidity with $CO2.

Carbonic Finance Coin is an algorithmic stablecoin protocol bringing sustainability to the Polygon ecosystem through carbon-backed treasury reserves. Inspired by Tomb Finance, the Carbonic protocol uses seigniorage mechanisms to ensure price stability and to enable bonding $BCT carbon credits, permanently locking carbon in its carbon reserve.

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Carbonic Finance Storage Key Points

Coin BasicInformation
Coin NameCarbonic Finance
Short NameCO2
Circulating Supply N/A
Max Supply100,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

CO2 Price Live Data

The live Carbonic price today is $6.87 USD with a 24-hour trading volume of $141,422 USD. They update CO2 to USD price in real-time. Carbonic is down 56.56% in the last 24 hours. The current CoinMarketCap ranking is #3787, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.

If you would like to know where to buy Carbonic at the current rate, the top cryptocurrency exchange for trading in Carbonic stock is currently DODO (Polygon). You can find others listed on crypto exchanges page.

Protocol Mechanics

$CO2 tokens are a representation of the price of one $BCT, which furthermore is a reference of one tonne of carbon.

By providing CO2 and BCT liquidity on Sushiswap, users can earn yield on the protocol by staking the SLP tokens to earn seigniorage shares, $SCO2.

Yield-farmed $SCO2 can then be staked in the Boardroom. The Boardroom expands the supply of $CO2 by giving out new $CO2 tokens to seigniorage shares stakers every epoch (6 hours).

Carbon Bonding and Protocol-owned Liquidity

Carbonic Finance Coin credits and liquidity tokens can be bonded, which is a decentralized exchange wherein users effectively “burn” their assets to the protocol treasury and are issued $CO2 tokens at a higher value, making a profit.

Bonding carbon credit tokens takes them out of circulation, which decreases the amount of carbon tonnes referenced in circulation on the Polygon blockchain.

Genesis Pools

Launch Date: Genesis pools will launch at 9 AM PST on 6/10/2022 Carbonic Finance will launch on the polygon network and the tokens will be distributed via genesis pools. Genesis pools is a decentralized method of distributing the initial supply of $CO2 before the full protocol launches.

The following pools will be available:

  • BCTMultiplier: 1000x Deposit fee: 1.8%
  • WMATICMultiplier: 1000x Deposit fee: 1.8%
  • USDCMultiplier: 1000x Deposit fee: 1.8%
  • CO2-BCT Multiplier: 2000x Deposit fee: 0%

Social Carbonic Price Estimates

Carbonic Finance Coin feature is in beta testing. Place your estimates for next 6 months and see what other’s are thinking about it. Data displayed are based on user input compiled by CoinMarketCap. The cut-off for estimates for each month-end is on the 21st of each month.

Carbon Bonding and Protocol-owned Liquidity

Carbon credits and liquidity tokens can be bonded, which is a decentralized exchange wherein users effectively “burn” their assets to the protocol treasury and are issued $CO2 tokens at a higher value, making a profit.

Bonding carbon credit tokens takes them out of circulation, which decreases the amount of carbon tonnes referenced in circulation on the Polygon blockchain. Protocol liquidity are as follows:

  • CO2-BCT Sushiswap LP (Legacy SLP)
  • SCO2-BCT Sushiswap LP (Legacy SLP)

Available on-chain carbon credit tokens are as follows:

  • Toucan Protocol’s Base Carbon Tonnes ($BCT)
  • Toucan Protocol’s Nature Carbon Tonnes ($NCT)
  • Moss.earth Carbon Credit ($MCO2)
  • c3.app Universal Based Offset ($UBO)
  • c3.app Nature Based Offset ($NBO)

Carbonic Finance Coin unique tokenized carbon credits and protocol SLP tokens can be bonded in the rebates section for more $CO2 at a premium, incentivizing users.

The receiving $CO2 tokens are vested (dripped) linearly for 5 days. Bonding is profitable when the time-weighted average price (TWAP) of $CO2 is greater than the price of 1.2 $BCT tokens.

Article Disclaimer

The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .

Tags: Carbonic Finance CoinCarbonic Finance ReviewHow It Work Carbonic FinanceHow To BUy Carbonic Finance
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Verna

Verna

One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.

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